Category: Economy and Markets
Sri Lanka shares end down 3.4-pct
Feb 14, 2012 (LBO) – Sri Lankan shares plunged again Tuesday with the main All Share Price Index crashing below 5,000 points in a widespread sell-off before recovering somewhat, brokers said. The main All Share Price Index closed down 3.35 percent (173.94 points) at 5,026.04, while the more liquid Milanka index fell 3.33 percent (150.49 […]
Sri Lanka tighter money to keep inflation low: CB Governor
Feb 13, 2012 (LBO) – Sri Lanka has tightened monetary policy and imposed a credit ceiling not only to counter balance of payments pressure but also to keep the island’s inflation low, Central Bank Governor Nivard Cabraal said. The central bank then sold dollars, initially mopping up excess liquidity and tightening the monetary system, but […]
Sri Lanka rupee opens weaker
Feb 13, 2012 (LBO) – Sri Lanka rupee opened weaker at around 115. 30/40 and traded lower against the US dollar in the spot market in the second trading day after the Central Bank withdrew from interventions, dealers said. On Thursday the rupee closed around 115. 20/30 against the dollars. On Monday the rupee opened […]
Sri Lanka rupee drifts lower against greenback
Feb 13, 2012 (LBO) – Sri Lanka’s rupee closed at 117. 25/40 against the greenback Monday down from Friday’s close of 115. 20/30 in a second day of trading without Central Bank intervention, dealers said. The rupee drifted lower in intra-day trading but recovered towards the end of the day. Dealers said some exporters had […]
Sri Lanka shares end down 2.2-pct
Feb 13, 2012 (LBO) – Sri Lankan shares plunged Monday, down for the eighth straight trading session in a continuing sell-off by investors that has seen the prices of some of those favoured by speculators fall sharply, brokers said. Environmental Resources Investments shares, a speculator favourite, was the most actively traded stock, ending at 20. […]
Sri Lanka bond auction yields below market
Feb 13, 2012 (LBO) – Sri Lanka has sold three and five year bonds through an auction Monday at rates below the secondary market, data from the state debt office showed. The debt office which is a unit of the Central Bank said it sold 3. 0 billion rupees of bond maturing on 15 June […]
Sri Lanka exchange rate flexibility welcomed by IMF
Feb 10, 2012 (LBO) – A decision by the Sri Lanka’s central bank to allow the exchange rate to move more in line with its monetary policy has been welcomed by the International Monetary Fund. “We welcome the move toward greater exchange rate flexibility announced today,” IMF resident representative Koshy Mathai said. “This step, supported […]
Sri Lanka central bank will not intervene at fixed price: CB Governor
Feb 09, 2012 (LBO) – Sri Lanka’s Central Bank will not intervene at a fixed price but will continue to supply part of the dollars needed to settle petroleum bills Governor Nivard Cabraal said after a trading band was removed Thursday. The International Monetary Fund has called for greater flexibility in forex markets to protect […]
Sri Lanka rupee trades with no intervention
Feb 09, 2012 (LBO) – Sri Lanka’s rupee recovered to close around 115.20/30 against the US dollar in the spot market after weakening as much as 115.70 in intra-day trade immediately after the central bank stopped interventions, dealers said. The rupee was pegged to the US dollar at 114.30 on Tuesday and after announcing a […]
Sri Lanka rupee eases lower with no intervention
Feb 09, 2012 (LBO) – Sri Lanka’s rupee fell against the US dollar to below 115 rupees after the Central Bank stopped intervening on a specific price, following a 30 cent lowering of its band earlier in the day, dealers said. The rupee fell from 114.30 to in the spot market Thursday with the lowering […]
Sri Lanka central bank bill stock tops Rs200bn
Feb 09, 2012 (LBO) – Treasury bills acquired by the Central Bank to back money printed to sterilize interventions in the forex markets to defend a dollar peg has topped 205 billion rupees, official data showed. The peg was adjusted down 30 cents to 114.60 rupees from 114.30 rupees on Thursday from a day earlier, […]
Sri Lanka shares end down 2.3-pct
Feb 09, 2012 (LBO) – Sri Lanka’s stock market slumped further Thursday, with the main index losing 125 points after falling 100 points the day before, down for the seventh straight trading session, brokers said. The main All Share Price Index closed down 2. 30 percent (125.26 points) at 5,316.99, while the more liquid Milanka […]